Brendel Financial Advisors LLC purchased a new stake in Boston Scientific Co. (NYSE:BSX – Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 22,815 shares of the medical equipment provider’s stock, valued at approximately $2,038,000.
Several other hedge funds have also added to or reduced their stakes in BSX. State Street Corp boosted its holdings in Boston Scientific by 2.3% during the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after buying an additional 1,389,172 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Boston Scientific by 2.2% during the third quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock worth $2,750,385,000 after buying an additional 718,515 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Boston Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock worth $2,469,607,000 after buying an additional 480,729 shares during the last quarter. Legal & General Group Plc boosted its holdings in Boston Scientific by 2.7% during the second quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock worth $1,072,195,000 after buying an additional 360,793 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Boston Scientific by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock worth $671,940,000 after buying an additional 64,720 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.
Analyst Ratings Changes
BSX has been the topic of several recent analyst reports. Evercore ISI lifted their price objective on Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Bank of America lifted their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. BTIG Research lifted their price objective on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a report on Monday, October 14th. JPMorgan Chase & Co. lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Finally, Morgan Stanley lifted their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $97.26.
Insider Buying and Selling
In related news, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the sale, the director now directly owns 39,398 shares in the company, valued at $3,610,038.74. The trade was a 11.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the sale, the executive vice president now owns 978 shares of the company’s stock, valued at $87,306.06. This trade represents a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,989 shares of company stock valued at $2,702,261. 0.50% of the stock is owned by insiders.
Boston Scientific Stock Up 1.0 %
BSX stock opened at $95.54 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $140.81 billion, a PE ratio of 78.96, a PEG ratio of 2.67 and a beta of 0.80. Boston Scientific Co. has a 1-year low of $59.61 and a 1-year high of $97.13. The business’s 50 day simple moving average is $90.36 and its 200 day simple moving average is $84.15.
Boston Scientific (NYSE:BSX – Get Free Report) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm’s revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 EPS. As a group, research analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current year.
Boston Scientific Profile
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.
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